With boot issues, the first thing to do is remove the PRAM battery.

Based on the HDD, there is a chance it was just fried. However, with both it and the optical drive not working, there is a chance that between the both of them some sort of data bus is shorting(or something like that). I'd try removing both and then see if you get a "? Floppy". If you do, plug one or the other back in and figure out which is bad.

My Wallstreet II also has a DVD drive, and it is broke and crashes it on bootup. Yours may have a more severe error?

You could check the video connector on the main board. Try swapping/removing RAM cards.